We are working at doubling our revenue

31 Oct 2017 CW Staff

ES Lee, Managing Director, Construction Equipment India Going by the global consumption pattern of construction and material handling equipment for various developed and developing economies, there seems to be huge potential in India. This is also evident from the recent infrastructure development ranking published by World Economic Forum. 'We understand that government agencies are taking steps for various economic and policy reforms, which are driving good growth in demand for these machines,' says ES Lee, Managing Director, Hyundai Construction Equipment India. He adds, 'The excavator industry in India grew by more than 45 per cent in 2016 over 2015, and the growth in H1 2017 was around 28 per cent over the same period in 2016. The growth of Hyundai Construction Equipment India has been more than the industry, which helped us improve our market share in the domestic market and achieve the No. 2 position among excavator suppliers in the country.' He shares more on the industry and the company's offerings. How does the company focus on design to meet customer specific needs? What is the investment made in R&D in this direction? Currently, we getting support from our Korea Design & Development team for customisation or launch of new product for our needs. Looking at the unique kind of usage pattern and expectations from domestic customers, the Hyundai management has decided to set up a R&D centre in Pune and expand the same to offer a specialised product range as per the Indian requirement and for the emerging market. We would be utilising the India plant as the manufacturing hub for demands for emerging economies as well. What are the after-sales service the company offers along with measures for preventive breakdown? The exponential growth of Hyundai Construction Equipment in India is largely due to the responsive customer support from our dealerships in the field. We support our customers through our network of 30 dealers around 180 outlets. For mining customers and for the corporate customers who are buying machines in large numbers, we have also started offering customised service packages including full maintenance contract, annual maintenance contract of annual service contracts as per the requirement of customers and the project feasibility. Going forward, what are your growth and expansion plans in India? As shared earlier, the Indian market offers huge opportunity for infrastructure equipment makers. This potential, however, throws unique challenges of managing cost, quality and service delivery to the customers. We have understood the customer needs and local culture and are optimistic about the future of Hyundai Construction Equipment in India. We are working on a strategic plan to double our revenue in the next five years and achieve the leadership position among excavators suppliers in India. (Communication by the management of the company)